Fondex review and ratings

Established 2017
Location Cyprus Seychelles
Regulation CySEC, SFSA
Offices Limassol, Mahe
Broker type STP | ECN
Leverage up to 1:500
Deposit from 1 USD
Spreads low  low
Platforms Web cTrader
Instruments Currencies Crypto Indices Metals Energies Stocks ETFs
Funding methods Wire Transfer Credit Cards PayPal Skrill Neteller WebMoney Yandex Money Sofort Bitcoin Bitсoin Cash Ethereum Liteсoin POLi Giropay PaySafeCard Przelewy24 PayTrust88

Company information

Fondex group includes 2 related companies.

Fondex CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
Fondex SEY - located in the Seychelles, regulated by the Seychelles Financial Services Authority (SFSA).

Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, SEY company accepts European traders, so one can open a trading account there.


Fondex group accepts clients from all over the world, excluding USA, Japan, North Korea, Iran, Belgium, Canada and some other countries whose regulations classify foreign exchange trading as prohibited.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

60+ Currency Pairs Based on major and minor world currencies.
11 Crypto Pairs Based on Bitcoin, Ethereum, Litecoin, Dash, Ripple.
14 Indice CFDs Based on baskets of different blue-chip stocks.
6 Metal CFDs Based on Gold, Silver, Platinum and Palladium.
3 Energy Spot CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
500+ Stock CFDs Based on shares of US, UK and EU companies.
15+ ETF CFDs Based on exchange-traded funds containing various tradable assets.

Comprehensive review

Registered and regulated in Cyprus for EU-based users and in the Seychelles for all others, Fondex is a forex broker that offers trading instruments from nearly all asset classes on the well-known cTrader platform.

As is always the case in the EU, Fondex’s Cyprus-based branch is overseen by the European Securities and Markets Authority (ESMA), which makes leverage for local traders limited to just 1:30 on major FX pairs. For others, however, Fondex is a traditional high-leverage, offshore forex broker that offers leverage all the way up to 1:500 on the most liquid instruments, with much more limited oversight by the Seychelles Financial Services Authority (SFSA).

A nice detail about Fondex and the cTrader platform it offers is the ability it gives users to choose whether they want to trade manually, copy trades made by other traders (known as copy trading), or deploy custom automated trading strategies. Despite being a newer trading platform than MetaTrader 4 (MT4), cTrader remains one of MT4’s main competitors, offering retail traders many of the same functions.

Unlike many other forex & CFD brokers, Fondex offers only one type of trading account. The account is a typical ECN-style account with very low spreads on the most liquid instruments, but with commissions on most trades.

At the time of this review, the commission is USD 2.5 per side per USD 100k traded for forex and commodity CFDs, and USD 1 per 100 shares traded for stocks and ETFs. For crypto trading, however, there is no commission, but instead a spread that averages USD 10.12 for the BTC/USD pair and USD 2.29 for ETH/USD, which seems reasonable for crypto CFDs.

As usual, the available funding methods vary somewhat depending on which branch of the broker a client is assigned to. For EU-based clients, funding options include bank wire transfers, major credit & debit cards, as well as many popular e-wallets such as Skrill, Neteller, and PayPal. For international users, other options, such as WebMoney, PayTrust, Paymero and EPS, are also available, in addition to funding with cryptocurrencies through a third-party service.

Trading accounts with Fondex can be funded and denominated in AUD, CAD, CHF, EUR, GBP, JPY, PLN, USD, and THB. Another great thing to note about Fondex is that there is no minimum deposit amount, and also no minimum balance required to open a trading account.

For any customer service needs, the broker is available for clients via a Cyprus-registered phone number in the EU and a Seychelles phone number for others. In addition, the broker can also be reached via email, fax and live chat on messaging apps like Telegram, WhatsApp, and Facebook Messenger. Lastly, we are also happy to see that the broker offers support in multiple languages, which for now includes English, Russian, Arabic, French, and Greek.

In conclusion, we have the clear impression that Fondex is a forex broker to keep an eye on for traders who like the cTrader platform, and would like access to a wide selection of instruments. With choices spanning from crypto to forex and stocks, all traded with leverage, there should be ample opportunities for instance for traders to try out custom trading algorithms designed for the cTrader platform across a range of assets.

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